â–¶ Media Morale: A Booz & Company study shows that despite falling revenues in traditional media companies, most industry executives are optimistic about their financial prospects. Specific findings include:
• 70% of industry executives surveyed characterize their company’s fundamental financial situation as sound, strong or very strong. Even print executives share that optimism: just 34% describe their financial picture as distressed or pressured.
• Although a significant proportion of the revenue declines of 2009 can be attributed to the economic downturn, 57% of media execs say structural trends in the industry will ultimately have a greater impact on their businesses than the recession; 67% of print execs say the same.
• Print media companies are the most concerned about their post-recession situation. 40% say they are worse off compared with 29% of those in TV and digital media. B2B players (25%) are the most optimistic.
• Asked about last year’s top priorities, 69% of media execs cited the development of new business models, primarily focused on boosting revenues from digital innovation, including innovative new media products (46%) and expanded distribution platforms (35%).
Source: Booz & Company